Squalene Market Worth 211.7 Million USD by 2021

The report “SqualeneMarketType (Animal-Sourced and Vegetable-Sourced) and by End-Use Industry (Cosmetics, Pharmaceuticals & Food) – Global Forecasts to 2021″, published by MarketsandMarkets, The global market is projected to reach USD 211.7 Million by 2021 and is projected to register a CAGR of 10.2% between 2016 and 2021.

The major drivers for this market are squalene’s beneficial properties on human health and growth in end-use industries such as cosmetics and pharmaceuticals.

Cosmetic industry will continue to dominate the market

Cosmetics, food, and pharmaceuticals are the major end-use industries of squalene. Cosmetic is the largest end-use industry for squalene. The demand for squalene containing products is primarily driven by the European and Asia-Pacific markets. Rising consumer awareness for using high quality products and willingness to pay premium prices for high quality products are the major factors driving the market. The increasing spending power of consumers as well as the increasing demand for good quality natural cosmetics has been contributing toward the growth in this market.

Vegetable-sourced squalene the fastest-growing segment

The market for vegetable-sourced squalene is expected to witness the highest growth rate during the forecast period. This is mainly due to its renewable nature, steady availability of raw material, and the skepticism and regulations regarding animal-sourced squalene. The increasing environmental sustainability concerns, regulations, and NGO activities regarding the use of animal-sourced squalene are driving the vegetable-sourced squalene market. Asia-Pacific and North America are expected to witness high growth during the forecast period.

Increasing demand from Europe accelerates growth of the squalene market

Europe is the leading market for squalene, followed by Asia-Pacific. Europe is estimated to account for the largest share of the market owing to vast potential that can be realized in the near future because of the growth of various end-use industries.

The report covers the Squalene Market and its trends in five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market is also analyzed based on type, namely, animal-sourced and vegetable-sourced and on the basis of its various end-use industries such as cosmetics, food, and pharmaceuticals.

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